New York State Teachers Retirement System Lowers Stake in Elme Communities (NYSE:ELME)

New York State Teachers Retirement System lowered its stake in shares of Elme Communities (NYSE:ELME) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,636 shares of the company’s stock after selling 3,152 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Elme Communities worth $1,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Elme Communities by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 16,669 shares of the company’s stock valued at $255,000 after buying an additional 1,544 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Elme Communities by 0.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,143,320 shares of the company’s stock valued at $32,321,000 after buying an additional 18,965 shares in the last quarter. Entropy Technologies LP purchased a new position in Elme Communities in the 4th quarter worth $197,000. abrdn plc raised its position in Elme Communities by 30.6% in the 4th quarter. abrdn plc now owns 22,946 shares of the company’s stock worth $342,000 after purchasing an additional 5,378 shares during the period. Finally, Hunter Perkins Capital Management LLC raised its position in Elme Communities by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 23,215 shares of the company’s stock worth $354,000 after purchasing an additional 875 shares during the period. Hedge funds and other institutional investors own 87.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ELME shares. Truist Financial upgraded shares of Elme Communities from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. cut shares of Elme Communities from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $18.00 in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday.

Elme Communities Trading Up 0.1 %

Shares of NYSE ELME opened at $17.11 on Monday. The firm’s 50 day moving average price is $15.30 and its 200-day moving average price is $16.48. The company has a market cap of $1.51 billion, a PE ratio of -122.18 and a beta of 0.91. Elme Communities has a 52-week low of $12.74 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.55 and a current ratio of 0.58.

Elme Communities (NYSE:ELME) last issued its earnings results on Thursday, February 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.26. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. On average, equities research analysts expect that Elme Communities will post 0.94 EPS for the current fiscal year.

Elme Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.72 annualized dividend and a dividend yield of 4.21%. Elme Communities’s payout ratio is -514.29%.

Elme Communities Company Profile

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.